"Sovereign risk by proxy" means that in my opinion only, the resource is under real control by Chinese interests, and any output and input decisions can, in reality, be partially governed by the Chinese government. ( Never underestimate their control of companies/ directors.)
If we don't believe that they are the tail that wags the dog, and could likely have influenced in the Old Peak selldown last year, I think then we are living in a cloud of bong smoke.
Re your comment on capital management, it has really been 12 months and nothing, so again, are there wheels turning underneath the mlx iceberg that we are unaware of? It is definitely not your usual board behaviour to be so flat and closed shop.
The manipulation of the tin price too looked highly suspect, especially when you see the amount imported by China during this period, during the peak of their lockdown strangely enough.
All I know is that I hope we might one day benefit nicely from this partnership, but in reality, I doubt we will ever get full value of return.
Regardless, even though my hypothesis' may seem ultra radical, they are not with any hate or prejudice, and I'm still in there & won't sell my fixed holdings, for a long time yet...
MLX Price at posting:
37.5¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)